Standard Bank officially launched its latest product known as BlueWallet yesterday, 28 April.
With the virtual prepaid account, customers have been given an extra advantage of being able to make payments for goods and services from the BlueWallet at registered retail outlets without having to carry around a physical wallet or bank card.
The virtual account allows customers to send money, top up airtime, purchase pre-paid electricity, pay their Multi-Choice account, withdraw cash at a Standard Bank ATM and transact at any Shoprite, Checkers or Engen Service Station. In addition, clients can pay City of Windhoek or Walvis Bay rates and taxes included.
Transaction fees run from N$2 to N$5. Other benefits are such as the ability to send money to mobile phones or any MTC-wallet account using the new product. Businesses have been accommodated through the company wallet package. Registered companies can make monthly salary payment to their employees.
“Today we are launching the BlueWallet product which has features superior to other wallets in the market. This is indeed a truly innovative product ahead of its time in the Namibian market,” remarked the bank’s Chief Executive Vetumbuavi Mungunda.
Mungunda added that the bank has moved from stabilizing its systems to innovation and he is confident that the banking institute will become the most innovative come end 2017. “The newly upgraded banking system enables us to offer more innovative products and services to our clients,” he said.
Mungunda took time to highlight what the bank’s phase of innovation entailed. Inclusive of the BlueWallet, the innovation face is packed with products such as SmartApp for Phones, Business Online, Bulk Note Acceptors, Internet Banking Refresh, New Debit cards, Email Statements and Electronic banking SMEs.
Realizing that innovation is not only about technology, the bank claims to have made progress in processes to revamp the bank, reviewing offerings and value propositions to various segments of their clients, and reviewing their strategic approach towards corporate social responsibility such as the ‘Buy-a-Brick’ and others.
“We are progressing faster than we ourselves anticipated in our journey towards innovation. On the words of our President ‘no one should be left out’, we do not want to leave you behind,” concluded the chief executive.
The launch of BlueWallet was done in partnership with MobiPay.